2007-03-02 18:37:50 · 5 answers · asked by Ellis C 1 in Business & Finance ➔ Taxes ➔ United States
In general, you cannot deduct fees paid to a lawyer for a divorce except those that are used specifically for tax planning.
If you haven't done so, have your lawyer bill you separately for the divorce and the tax planning associated with the divorce.
2007-03-03 00:09:50 · answer #1 · answered by Steve 6 · 1⤊ 0⤋
Only if your divorce lawyer itemized your bill showing the amount paid specifically for tax advice or for the part that relates to separating your business assets for distribution and the like. Only expenses relating to income-earning activities and investment activities are deductible. Personal divorce matters generally do not reach into either of these areas, except for division of assets, which still isn't deductible. Only when the lawyers have to dismantle a business or your ex was, say aboard member of your corporation and you had to kick her off, would there be any business deduction.
-- A Darn Good Tax Advisor
2007-03-03 09:44:50 · answer #2 · answered by WealthBuilder 4 · 1⤊ 0⤋
You can deduct the part that was for determining and minimizing your income tax expense. Huge grey area, go see a good cpa.
2007-03-03 02:42:17 · answer #3 · answered by Scott K 7 · 1⤊ 1⤋
No but she can deduct what you paid.
2007-03-03 02:46:17 · answer #4 · answered by Sheriff of Yahoo! 7 · 0⤊ 3⤋
no
2007-03-03 02:45:39 · answer #5 · answered by cork 7 · 0⤊ 2⤋